AvalonBay Communities, Inc. $AVB is Adelante Capital Management LLC's 5th Largest Position

Key Points

• Adelante Capital Management LLC reduced its stake in AvalonBay Communities by 13.9%, owning 344,822 shares worth $74 million, making it the firm's 5th largest holding.
• AvalonBay Communities reported earnings per share of $2.82 for the last quarter, exceeding estimates, but with revenue of $689.9 million, falling short of expectations.
• The stock has a current market capitalization of $27.82 billion and recently opened at $195.38, showing a trading increase of 1.4%.

Adelante Capital Management LLC lessened its stake in AvalonBay Communities, Inc. (NYSE:AVB - Free Report) by 13.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 344,822 shares of the real estate investment trust's stock after selling 55,622 shares during the quarter. AvalonBay Communities accounts for approximately 5.2% of Adelante Capital Management LLC's portfolio, making the stock its 5th biggest position. Adelante Capital Management LLC owned approximately 0.24% of AvalonBay Communities worth $74,006,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AVB. Presima Securities ULC lifted its stake in AvalonBay Communities by 2.6% in the first quarter. Presima Securities ULC now owns 7,286 shares of the real estate investment trust's stock worth $1,564,000 after acquiring an additional 185 shares during the last quarter. UniSuper Management Pty Ltd raised its holdings in shares of AvalonBay Communities by 30.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 69,784 shares of the real estate investment trust's stock valued at $14,977,000 after purchasing an additional 16,301 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in shares of AvalonBay Communities by 0.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 37,790 shares of the real estate investment trust's stock valued at $8,110,000 after purchasing an additional 336 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of AvalonBay Communities by 1.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,245 shares of the real estate investment trust's stock worth $5,847,000 after purchasing an additional 292 shares during the last quarter. Finally, Gotham Asset Management LLC grew its stake in shares of AvalonBay Communities by 50.1% during the first quarter. Gotham Asset Management LLC now owns 75,446 shares of the real estate investment trust's stock worth $16,192,000 after purchasing an additional 25,173 shares in the last quarter. 92.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Scotiabank cut their price target on AvalonBay Communities from $236.00 to $226.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 14th. Mizuho reissued a "neutral" rating and set a $199.00 target price (down previously from $213.00) on shares of AvalonBay Communities in a research report on Thursday, August 14th. Wall Street Zen upgraded AvalonBay Communities from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Barclays cut their target price on shares of AvalonBay Communities from $241.00 to $228.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of AvalonBay Communities from $251.00 to $249.00 and set an "overweight" rating for the company in a research note on Tuesday, June 17th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $223.43.

Insider Transactions at AvalonBay Communities

In other AvalonBay Communities news, EVP Edward M. Schulman sold 5,945 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $205.67, for a total transaction of $1,222,708.15. Following the transaction, the executive vice president owned 17,617 shares in the company, valued at approximately $3,623,288.39. The trade was a 25.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevin P. O'shea sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $207.57, for a total value of $1,245,420.00. Following the completion of the sale, the chief financial officer directly owned 22,782 shares of the company's stock, valued at $4,728,859.74. This represents a 20.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

AvalonBay Communities Stock Performance

Shares of NYSE AVB traded up $0.68 during mid-day trading on Tuesday, hitting $195.15. 673,674 shares of the company were exchanged, compared to its average volume of 798,677. The stock has a 50 day simple moving average of $195.19 and a 200-day simple moving average of $203.18. AvalonBay Communities, Inc. has a 1-year low of $180.40 and a 1-year high of $239.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market cap of $27.79 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 2.80 and a beta of 0.87.

AvalonBay Communities (NYSE:AVB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.02. AvalonBay Communities had a net margin of 38.91% and a return on equity of 9.70%. The company had revenue of $689.90 million during the quarter, compared to the consensus estimate of $759.08 million. During the same quarter in the prior year, the firm earned $2.77 EPS. AvalonBay Communities has set its FY 2025 guidance at 11.190-11.590 EPS. Q3 2025 guidance at 2.750-2.850 EPS. On average, sell-side analysts forecast that AvalonBay Communities, Inc. will post 11.48 EPS for the current fiscal year.

AvalonBay Communities Profile

AvalonBay Communities, Inc is a real estate investment trust, which engages in the development, acquisition, ownership, and operation of multifamily communities. It operates through the following segments: Same Store, Other Stabilized, and Development or Redevelopment. The Same Store segment refers to the operating communities that were owned and had stabilized occupancy.